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Banks, Banking, Insurance, Fund Management
I have worked with many of the largest banks and insurers in the world over the last 20 years, and all of them are focussed right now on the threat and opportunity of FinTech innovation.
Very simply: FinTech will cause as radical changes to banking and payments as the web has caused to the whole of society. Combine the gigantic power of the web and mobile tech with the profits of the entire financial sector worldwide, and you get one of the greatest opportunities to create digital wealth that the world has ever seen.
That's one reason why FinTech is one of the fastest growing areas of IT innovation with over $18bn invested a year. In the first 3 months of 2017, Global FinTech startups raised $2.78n of investment from global venture capital firms, in 226 separate deals. In London alone there are probably over 10,000 FinTech startups - it is hard to keep track of the frenetic pace of change in this sector.
Why is FinTech so important?
FinTech combines all the power of the web, the potential of mobile transactions, the capabilities of cloud-computing, of Artificial Intelligence and Big Data analytics, and all the potential of mega-sized IT platforms, to completely transform how money is stored and transferred, globally.
Read more: Future of FinTech, Banks and Financial Services Trends - Futurist Keynote Speaker on FinTech Innovation, mobile payments, Banking, Insurance and Personal Finance - FEATURE